-
Slightly confused about tax due - went self-employed part way through 21-22 tax year
I went freelance (sole trader) in July 2021, after leaving my employed role - so obviously had some earnings from employment April-July which I was taxed for via PAYE as usual. I'm currently trying to do the sums to make sure I've left enough in my sole trader bank account to pay my tax, NI and student loan when I file my…
-
Help with Xero
Hi, I'm a new user of Xero, Self employed, building trade, VAT registered, trying to get ready for MTD. I'm hoping some helpful person on here, that uses Xero could answer a few questions for me. 1, I buy small hand tools quite often, but I don't know what code to put them under? 2, Also flooring materials, again not sure…
-
Bank sent balance to HMRC
We recently dissolved our limited company. Not long after it had been dissolved our bank ran a company check, saw that the company had been dissolved and sent the balance of the account to the HMRC. We have been told that we can't claim this money back and it now sits with the crown. Anyone been in this situation before?
-
Small Farm & Yorkshire Electric/Ecosave ripping us off?
Hi, Please could someone help. My father in law uses a company called Ecosave to look for the best electric prices for our small farm. It was all going fine until they put him with someone called Yorkshire Electric/Gas and now they are ripping him off. They are taking £200 advance electric costs (last month we only used 53…
-
buy products from eu company, product guarantee？ 14 days return?
I found a website which is a company registered in eu country, they has sale office and warehouse in UK, but not UK Registered. If I buy the products from this website, how about guarantee? If It run into trouble, it seemed not easy to deal with? thanks
-
5 yearly upward only to market rent...
We're looking to get a sign up to a 10-year lease on a small warehouse. The landlord has a break at the 8-year point. Leases in neighbouring properties end then, and they may want to do a big refurb. With this in mind, they've lowered the rent to 66% of market rate. This all weighs up fine for us, but we are concerned at…
-
Car for business
I am an self employed electrician who does agency work on work sites. I need to replace my car which is an estate for my work tools etc. With second hand prices so high I’m struggling with options around £8k as a “normal” purchase. Can anybody give me any advice on purchasing a car as a work vehicle through my company?…
-
Considering consulting - tax questions about first assignment
Not sure if this is in the right section as it's related to tax, self employment and freelance/consultancy. I currently have a full time job but i am dripping my toe in the world of consultancy to see if it's something i can do full time and leave my current job. I currently earn 50k so in the 40% bracket. I have a small…
-
How long for tax repayment?
Hi. This is my first year of filling in a tax return as I have just set up my own business. I am due a repayment as I have over paid tax, which I have requested, but I am just wondering how long this usually takes. My husbands repayment came through in 48 hours, from when he requested it, but mine has been a couple of…
-
£1000 Allowance
I am a collector/hoarder & have decided to thin down my collections & not leave a problem for my heirs to sort out. A friend says if I sell more than £1000 worth in a tax year that I have to declare it to HMRC. I have looked on the HMRC website & there is a section on "Tax free allowances on property and trading income"…
-
Invoice - date range
Hi, on my invoices for one of my customers its more convenient for us both if i calculate hours and cost per week rather than per day, e.g. February Wk1, Wk2 etc. Would this be acceptable to HMRC? Thanks
-
Opening a Shop - Free Business Rates For A Year?
Hello, I was interested in opening a shop and I was told by someone that if you are a new business you would not have to paybusiness rates for the 1st year. I do not believe this to be true as I have not seen any information regarding this. However please could someone confirm this. I tried to call my local council and…
-
Energy Agent mis-sold contract with EDF -who now void contract, massive price hikes - Advice please!
Hi There, This is my first post so bear with me if I make any Faux Pa's (I have put this in the business forum assuming I may get told off if in the consumer area). I'm a partner with my parents who are in their late 70's, in a family business. On 26th August last year, my Father signed up with Bionic to change our…
-
Delivery help
Hello! Back in December, I sold 2 meter boxes to a customer online. Day of delivery customer called to say they had been damaged in transit which I sincerely apologised for a sent replacements out and then claiming the cost from the courier. As the goods were delivered on the 14th of that month and I hadn't heard from the…
-
What sort of car insurance should I get?
This thread is specifically about what sort of insurance I need to get for my company car which I will be using personally. I know some business owners just get private insurance and declare that the car is company owned. However as I plan to put graphics and branding on the car, will personal insurance cut it? Do I need…
-
My Accountant has passed away and my taxes due
I have just found out my accountant of 15 years who was a sole trader passed away, and her funeral was last week. Her daughter contacted me after a few of my emails to find out my accounts progress to her Mum to tell me whilst I was semi awake. Does anyone know what happens as her daughter suggested that there would be a…
-
Public Liability Insurance for individual with IVA
How do I get PL insurance with an IVA on record? The IVA was taken out four years ago, with one year left to pay. But I keep being refused quotes because of the IVA. I have a small hobby baking business but wish to sell at markets. Markets require proof of liability insurance certificate in order to acquire a stall.
-
Best card reader for sales...?
Currently have the Paypal here and find it works find but have been advised to look at Zettle or Sum up? Any advice?
-
VAT Question
Hi everyone My friend asked me a question about VAT on new builds yesterday and I'm not quite sure about the answer. He is a subcontractor builder and has just started a job on a new build where he has been told he does not need to charge VAT (it is a qualifying build). He has, over the past few years done work on other…
-
What can be done about a competition business owner leaving a negative review for my business?
Hi all I'm looking for some advice for dealing with a competition business owner that has left a negative Google review for my business, to clarify that's the only negative review my business has, it's really disappointing because I go out of my way to make sure that my customers are happy with our service which is why all…
